Bitcoin Shrugs Off $3.5B Dump, Proves It’s Not Afraid of a Little Drama 🤷‍♀️💰

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Bitcoin is playing hard to get, folks. Despite a massive sell-off that seemed like it was going to send us spiraling into a black hole of losses, our favorite crypto is slowly but surely climbing back up. Talk about resilience! 🌟

  • Galaxy Digital, the drama queen of the crypto world, offloaded thousands of BTC for a cool $3.5 billion. 💸
  • Bitcoin dipped to a low of $114,700 but bounced right back to $116,000 like it was nothing. 🤷‍♀️
  • Thanks to strong liquidity, most of the dump was absorbed without causing a major panic. Phew! 😌

Over the past 24 hours, Galaxy Digital has been on a bit of a spending spree, moving nearly 30,000 BTC out of its wallets. According to blockchain intelligence platform Lookonchain, this asset shuffle, worth around $3.5 billion at current prices, started in waves and mostly ended up on exchanges. 📈

First, 10,000 BTC was deposited across top exchanges like Binance, OKX, and Bybit, followed by another 2,850 BTC just hours later. Blockchain data confirms that shortly after these deposits, Galaxy began pulling in stablecoins like there was no tomorrow. 🚀

Update: #GalaxyDigital has transferred nearly 30,000 $BTC ($3.5B) out today, most of which went directly to exchanges and were sold.

Then #GalaxyDigital withdrew 1.15B $USDT from exchanges. #GalaxyDigital still holds 18,504 $BTC ($2.14B).

— Lookonchain (@lookonchain) July 25, 2025

Roughly $370 million USDT was withdrawn after the first batch, and so far, the firm has moved a total of $1.15 billion USDT off exchanges, suggesting the BTC had indeed been sold. 🤑

Galaxy’s movements weren’t entirely unexpected. The transfers follow earlier signs tied to a Satoshi-era whale wallet that reemerged in early July after more than a decade of dormancy. As previously reported by crypto.news, the whale shifted nearly half of its 80,000 BTC into new wallets, and another 40,000 of that landed in Galaxy Digital-controlled addresses. 🐳

At first, the shuffles looked like a routine wallet upgrade. But once large chunks started flowing to exchanges, the selling plans became clear. While the sales initially raised fears of deeper losses as Bitcoin was already slipping, the market held up. It’s like Bitcoin said, “Bring it on, I’ve got this!” 💪

Bitcoin bounces back

Bitcoin is trading around $116,000 at the time of writing. While still down 1.6% on the day, its current price marks a recovery from earlier lows near $114,700. It’s like it took a quick nap and woke up feeling refreshed. 😴✨

The rebound in price comes alongside a fresh boost from Bitcoin ETFs, which broke a three-day outflow streak with about $227 million in net inflows during the latest session. Looks like someone’s got a crush on Bitcoin! ❤️

Meanwhile, Galaxy Digital still holds about 18,500 BTC, and about 12,000 BTC, roughly $1.38 billion, from the 80,000 BTC whale remains untouched, suggesting more sales could follow. But hey, who doesn’t love a little suspense? 🎭

But according to on-chain tracker EmberCN, the sales so far have been a mix of secondary market and over-the-counter transactions. This means that with liquidity holding up and most of the sell pressure already absorbed, the final wave is expected to have minimal impact on prices. So, relax, everything’s under control. 🛀

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2025-07-25 16:10